A Jersey-registered company linked to Russian oligarch Roman Abramovich has become a focal point in a dispute over £2.35 billion from the sale of Chelsea Football Club – funds the former owner pledged to help victims of the war in Ukraine.
The billionaire, who was sanctioned by the UK and Jersey governments in 2022 following Russia’s invasion of Ukraine, has accused authorities of “paralysing” his company structures and blocking the release of money he pledged to donate to those affected by the conflict.
According to company filings, Camberley International Investments Limited, a Jersey-based entity owned by Mr Abramovich, is owed more than £1.4 billion by Fordstam Ltd – the former parent company of Chelsea FC.
That debt sits within the £2.35 billion raised when the Premier League club was sold to a US-led consortium in 2022.
At the time, Mr Abramovich pledged to donate the “net proceeds” from the sale to “all victims” of the war in Ukraine.
But representatives of the Russian oligarch have hit out at the government for “paralysing” his company structures
A spokesman for Mr Abramovich said: “Due to sanctions and a range of other governmental actions, Camberley International Investments Limited, as well as other structures with any form of historic link to Mr Abramovich, have been effectively paralysed since 2022.
“Consequently, no actions in relation to the frozen funds are possible to make without the government’s approval. The UK government has not proposed any legal solution to this current situation.”
In June, the UK government threatened to go to court to force Mr Abramovich to agree to its demands on the release of the money.
A spokesman told The Times: “The government is determined to see the full proceeds from the sale of Chelsea Football Club reach humanitarian causes in Ukraine, following Russia’s illegal full-scale invasion.
“We are deeply frustrated that it has not been possible to reach agreement on this with Mr Abramovich so far.
“While the door for negotiations will remain open, we are prepared to pursue this through the courts if required, to ensure people suffering in Ukraine can benefit from these proceeds as soon as possible.”
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